Fundamental economics problem

Jakarta (ANTARA News) - An economist said President Joko Widodo (Jokowi) needs to consider a technocrat skilled in industrialization for a running mate in his bid for reelection in 2019. "Jokowi has to look for a running mate, who is skilled in industrialization and has strong support from political parties," said Yopie Hidayat, former spokesman of the office of former vice Boediono. The three qualities need to be considered to settle fundamental issues faced by the nation, Yopie said, adding, "otherwise our fundamental problem would never be settled." He said one major challenge faced by Jokowi if he is reelected in 2019 is to prevent rupiah from losing more value. He said the source of problem over shrinking value of rupiah is current account deficit, which is a result of larger outflow of U.S. dollar to finance imports, etc. than dollar inflow in export earning. "This is the cause of rupiah continuing to weaken against the dollar and this is the most fundamental economic … [Read more...] about Jokowi needs technocrats for a running mate : Economist

World It’s just after 8 on a crisp morning outside Besters, a farming village in South Africa’s KwaZulu-Natal province, and Mhle Msimanga is wading through his herd of cattle in a wire pen, calling out directions to his sons and nephews standing outside it. “The cows can’t get out if you’re all crowded at the gate!” the 48-year-old farmer yells, speaking the local isiZulu language. The boys move aside, and a few cattle trot out, meandering onto a dirt road that leads toward the low-slung mountains that spread out behind Msimanga’s property.It wasn’t always his land. In 2005, the post-apartheid South African government bought about 1,112 acres from his former boss—a white farmer—and transferred the title deed to Msimanga and his fellow workers. It was part of a larger transaction in Besters that year: The government acquired over 34,590 acres from white South African farmers and transferred the ownership to nearly 200 black … [Read more...] about South Africa: Tensions Between White Farmers and Black Population Fuel Fears of Economic Collapse and ‘Civil War’

Minister of Transport Nguyen Van The fields questions raised by lawmakers on June 4th (Photo: VNA) The is the first Cabinet member to reply to queries at the question and answer session of the ongoing fifth session of the 14th-tenure National Assembly (NA). In his report, The said investment under the BOT form has been stepped up since 2009 to develop transport infrastructure. Promoting BOT investment is a policy appropriate to the reality as the budget is limited while public debt is big, he stressed. BOT projects have made important contributions to socio-economic development and created a basis for the completion of transport system, he noted, admitting that there remain many problems in the management, invitation for bidding and operation of BOT toll booths which have yet to completely ensure harmonious interests among people, the State and investors. Deputy Nguyen Ngoc Phuong of Quang Binh province asked about the difference in the numbers of toll collection years between the … [Read more...] about Transport minister questioned about problems of BOT projects

POLITICS 06/01/2018 03:33 pm ET The president scored cheap political points this morning by undermining trust in the U.S. economy. By Ryan Grenoble A president who is obsessed with stopping leaks leaked extremely sensitive economic information about May’s jobs report Friday morning, over an hour before the report was officially released. “Looking forward to seeing the employment numbers at 8:30 this morning,” President Donald Trump tweeted at 7:21 a.m., hinting the numbers would be favorable. Not only is that an hour before the report’s release, it’s a full two hours before government appointees are legally allowed to say anything at all. Looking forward to seeing the employment numbers at 8:30 this morning.— Donald J. Trump (@realDonaldTrump) June 1, 2018 Aside from the sheer hypocrisy of Trump, one, leaking and, two, playing up the importance of a report he used to dismiss as “phony” and “one of the … [Read more...] about Trump Leaked Sensitive Info From The May Jobs Report, And That’s A Big Effing Problem

Business leaders from across the UK have urged Theresa May to focus on pressing problems for the economy from potholes to house building - and not just Brexit talks. In a letter published by the British Chambers of Commerce (BCC), they acknowledge the importance of securing the best deal with the EU but also stress the need to "fix the fundamentals" at home.The BCC said the letter was written on behalf of 53 chambers of commerce from across the UK, and highlighted perceived inaction on key domestic issues.Director general Adam Marshall says in the letter: "Our future success depends not just on Brexit negotiations, but also on the big economic decisions that must be made here in the UK."The letter to Mrs May calls for a "compelling, pro-enterprise and pro-growth vision for the future, and a bold set of domestic policies to make it happen".It picks up widespread complaints about the government's apprenticeship system as well as asking for clarity on migration rules among others … [Read more...] about PM urged to ‘fix the fundamentals’ for economy by business leaders